Sometimes, a lot of us end up with huge credit card bills. It could be a medical emergency, unplanned natural calamity or travel getting us into this. A lot of us end up with huge credit card bills which we then struggle to pay off. A typical interest rate for a credit card is 36 – 45 % per annum and the pending amount piles up faster than you can get rid of it. So, what are the options? Well, there is a number of them, and let us look at them below: Converting The Outstanding Amount Into EMIs: It just makes life a tad easier, but you still do end up with reduced credit limit, processing charg ..read more

When it comes to handling your money, dealing with taxes is a big deal. If you’re earning a regular salary, it’s important to take a good look at what you make before the taxman takes his cut. Your pre-tax earnings are like the starting point for all things money-related. By really understanding your salary before taxes kick in, you’re setting the stage for smart tax planning. It’s not just about following the rules – it’s about knowing your financial landscape inside out. This way, you can come up with a plan that not only keeps you on the right side of tax laws but also helps you make savvy ..read more

When someone, be it an individual or a business, applies for a loan (referred to as “credit” in banking), several factors come into play before a lender decides whether to approve the request. Lenders typically adhere to the 5 Cs of Credit: Character, Capacity, Capital, Collateral, and Conditions. Delving into each of these elements enables the lender to gauge the risk associated with providing the requested funds to the borrower. Explore the breakdown of each C below. 5 Cs of Credit Character Character looks at a borrower’s track record and reputation in handling financial matters. Lenders f ..read more

Non-Banking Financial Companies (NBFCs) are an integral part of the financial sector and play a significant role in the Indian economy. With the increasing demand for credit and financial services, the NBFC sector has witnessed rapid growth in recent years. However, despite their significance, many people are still unaware of the basics of NBFCs. This article aims to provide a comprehensive overview of NBFCs, including their definition, services, regulation, and role in the financial market. What are Non-Banking Financial Companies (NBFCs)? NBFCs are financial institutions that provide various ..read more

So, you’re on the exciting journey of securing a home loan, but there’s a critical decision staring you in the face – fixed or floating interest rate? It’s a common dilemma, and both options come with their unique set of advantages and drawbacks. In this article, we’ll break down everything you need to know to make an informed choice that suits your financial goals. Understanding Fixed Interest Rate Let’s start with the basics – a fixed interest rate means just that, it stays constant throughout your loan tenure. No surprises, no roller-coaster rides with market fluctuations. Advantages of Fix ..read more

Inflation is a term commonly thrown around in economic discussions, but its implications for personal finances are often overlooked. Simply put, inflation signifies a general increase in the prices of goods and services over time, resulting in a decline in the purchasing power of money. This blog aims to demystify the impact of inflation on personal finances and provide actionable strategies to mitigate its effects. Without waiting further, let’s dive in. Inflation’s Impact on Personal Finances Decreased Purchasing Power Inflation essentially boils down to the idea that your money doesn’t str ..read more

In times of urgent financial need, an instant personal loan can be a lifesaver, providing quick funds for various purposes like home renovations, education expenses, or medical emergencies. However, the convenience of personal loans comes with the responsibility of managing Equated Monthly Instalments (EMIs). Failing to handle these payments effectively can lead to severe consequences, impacting your credit score negatively. This comprehensive guide aims to shed light on 7 common EMI mistakes individuals make and provides practical strategies to avoid them. From budgeting effectively to unders ..read more

Hey there, savvy Indians! Are you dreaming of sipping chai in your dream home or cruising down the boulevard in a shiny new car? Well, my friends, it’s time to tackle those pesky unsecured debts and give your creditworthiness a boost that’s Bollywood-worthy. And guess what? We’re going to do it in style! Channel Your Inner Financial Guru: Get a Debt-Dragon Slayer Plan Imagine your unsecured debts as a dragon, and you’re the knight in shining armour. The first step to financial freedom is creating a master plan, a ‘Debt-Dragon Slayer Plan,’ if you will. List down all your debts, big or small ..read more

In India, Aadhaar is a very important proof of identity mandatory for business and official transactions (opening a bank account, trading and filing your tax returns). To get an Aadhaar card, you need to visit the designated enrollment centre like the Aadhaar Seva Kendra. How can I check the Aadhaar card status online? Your Aadhaar card status can be checked on the official UIDAI (Unique Identification Authority of India) website after the completion of the Aadhaar enrolment process. People can check their status by providing their Enrolment ID and date (Check the acknowledgement slip for deta ..read more

Today, the Aadhaar card is one of the most important identification documents for citizens of India. We need Aadhaar to open a bank account, invest in schemes, file IT returns and many other things. This means people have to carry their Aadhaar card with them everywhere. And, there’s always a chance of losing your Aadhaar card. To secure the identity of an Aadhaar card holder, Unique Identification Authority of India (UIDAI) has introduced ‘Masked Aadhaar’. What is a Masked Aadhaar Card? Masked Aadhaar ensures that even if the card is misplaced or lost, it cannot be misused to create fake iden ..read more